# Canadian Dollar Climbs Amid Energy Rally, Weaker PPI

> The Canadian dollar strengthened on Jan. 31 as energy prices rallied, with March WTI crude up about 1.3% to $87.93 a barrel and March natural gas up more than 5%. Statistics Canada reported that producer prices rose 0.7% month over month in December, though annual growth slowed. Analysts expect the loonie to stay volatile while the Fed tightens.

- Date: 2022-01-31 · published 2022-01-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/43392-canadian-dollar-climbs-amid-energy-rally-weaker-ppi
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Higher crude and natural gas prices raise input and energy costs for feed production and transport. A stronger loonie lowers the Canadian-dollar cost of imported feed ingredients.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-07-30 | [Canadian dollar climbs to 7-week high on NAFTA optimism, oil rally - Financial Post](https://feedsoft.ai/events/64254-canadian-dollar-climbs-to-7-week-high-on-nafta-optimism-oil-rally-financial-post.md) | -0.3% | +1.0% |
| WTI | 2022-02-11 | [Canadian dollar adds to weekly gain as oil prices climb](https://feedsoft.ai/events/42920-canadian-dollar-adds-to-weekly-gain-as-oil-prices-climb.md) | +2.1% | +21.7% |
| WTI | 2016-12-12 | [Canadian dollar posts fresh seven-week high as oil climbs \| Reuters](https://feedsoft.ai/events/73701-canadian-dollar-posts-fresh-seven-week-high-as-oil-climbs-reuters.md) | +0.8% | -1.3% |
| WTI | 2022-01-11 | [Canadian dollar climbs to 2-month high as oil prices jump](https://feedsoft.ai/events/43396-canadian-dollar-climbs-to-2-month-high-as-oil-prices-jump.md) | +9.3% | +14.3% |
| WTI | 2020-02-12 | [Canadian dollar climbs to one-week high as virus fears ebb \| Financial Post](https://feedsoft.ai/events/54807-canadian-dollar-climbs-to-one-week-high-as-virus-fears-ebb-financial-post.md) | +6.6% | -33.8% |

## Sources

- fxdailyreport.com: https://fxdailyreport.com/canadian-dollar-climbs-amid-energy-rally-weaker-ppi/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.